if you have filed 2019, appears they will use that income tax submission to determine payments (otherwise they will use 2018)
since your younger child was under 17 on Dec 31, 2019, you would receive $500 for that child
only 'qualifying children' (i.e. those under 17 with a social security #) are eligible for the $500. So children over 16, other relatives, etc. would NOT be eligible for the $500.
The $500 is subject to your income. There is a phase out once your income hits $150,000 (or $75,000 single). So let's say your joint income is $170,000 and you have a qualifying child. You'd think you'd receive $2900 ($1200 per adult and $500 per child). But the payment is reduced by 5% for every dollar over $150,000. So 5% of $20,000 is $1000, so the payment would be $1900.
and all that assumes the House doesn't try to change anything before they vote.
